Friday, September 16, 2011

Government Revenues and Expenditures

Note to Self:IMF DataMapper users the following definitions for public revenues and expenditures.

General government revenue (National currency)Revenue
consists of taxes, social contributions, grants receivable, and other
revenue. Revenue increases government’s net worth, which is the
difference between its assets and liabilities (GFSM 2001, paragraph
4.20). Note: Transactions that merely change the composition of the
balance sheet do not change the net worth position, for example,
proceeds from sales of nonfinancial and financial assets or incurrence
of liabilities.

General government total expenditure (National currency)Total
expenditure consists of total expense and the net acquisition of
nonfinancial assets. Note: Apart from being on an accrual basis, total
expenditure differs from the GFSM 1986 definition of total expenditure
in the sense that it also takes the disposals of nonfinancial assets
into account.